El salvador has become new history of bitcoin!

[Furious 7]

Yes this day is a cause for celebration and others will follow. Also note this is Bitcoin, not crypto, not some kind of shitcoin, but Bitcoin. And they will be focusing on the Lightning network.

Hopefully there could be other countries to follow the footstep as what El Salvador this 2021.

We never thought that a Central American country like El Salvador will be the face of bitcoin in that border, but they initiate it so we should lauded their current government for the decision. And it will open up a lot of opportunities for El Salvadorian to explore the benefits of bitcoin individually. Who knows maybe next month we will see them on top of Google Searches. And give them some time, maybe Central America countries are already looking at bitcoin and make them a legal tender.

Elsavador's first history of being part of a cryptocurrency that legalized legal payments as its currency, but this is still the first tail we have to start longer and who will follow in their footsteps later, of course some institutions will see this progress and they can believe that bitcoin indeed assets that are more important to be made into investments and other capital, I think so and see after a lot of news developments about elsavador that are reaping this praise.

For the OP to think the price back to @64k I think this will take a long time too, but we'll see how strong the bitcoins are to keep pumping bitcoins up to ATH again.

[Roidz]

In the midst of a number of negative sentiments that continue to occur towards bitcoin but finally there is some news that is quite encouraging for us bitcoin lovers, according to the news  after El Salvador, Paraguay is now considering crypto assets as a transaction tool in their country, and even plans next month Paraguay congressman Carlos Rejala plans to submit a bill to attract international mining companies and other crypto businesses to invest in the country, but unfortunately now the IMF (International Monetary Fund) says if the two countries (El Salvador and Paraguay) adopt bitcoin it is possible will be problematic for the economy and law in the country later .

https://www.google.com/amp/s/www.businessinsider.in/cryptocurrency/news/paraguay-could-become-the-second-country-to-adopt-bitcoin/amp_articleshow/83363776.cms

[Kemarit]

^^ We will see if bitcoin will become problematic, Japan has adopted bitcoin legally, but we don't here IMF criticized them? So it seems that IMF has some narrative with this negative statements about El Salvador and Paraguay, yes they are poor country but they don't need to dictate what the government wanted to do to their economy, specially trying to become the first in Central America.

[Psynthax]

In the midst of a number of negative sentiments that continue to occur towards bitcoin but finally there is some news that is quite encouraging for us bitcoin lovers, according to the news  after El Salvador, Paraguay is now considering crypto assets as a transaction tool in their country, and even plans next month Paraguay congressman Carlos Rejala plans to submit a bill to attract international mining companies and other crypto businesses to invest in the country, but unfortunately now the IMF (International Monetary Fund) says if the two countries (El Salvador and Paraguay) adopt bitcoin it is possible will be problematic for the economy and law in the country later .

https://www.google.com/amp/s/www.businessinsider.in/cryptocurrency/news/paraguay-could-become-the-second-country-to-adopt-bitcoin/amp_articleshow/83363776.cms

If these countries could provide a place to build a mining facilities that runs on renewable energy that'd be great, same with el salvador so the problem regarding massive energy consumption will be resolved although actually it has been debunked few times and just an overblown issue.
but yeah, the IMF will be a big problem for the whole cryptocurrency market in the future but technology like blockchain or any crypto as a product of decentralized system gonna be hard to go against, mostly they just gonna make some random regulations.

[dmamigo]

I believe the decision made by El Salvador will heavily impact the market and industry overall. Now, I just hope that other countries just look into this matter and then make their decision on adopting crypto.
This step much appreciated because I feel that this would change the way people will see cryptos in the future and gradually cryptos will be accepted by every country.
Few countries are planning to accept it but it will fall under an asset class rather than a currency.

[Kittygalore]

I think that the moment that they plan to consider bitcoin as a legal tender is already a reason for them to be part of bitcoin history because that is a sign of adoption and it's the first for any country.

[bitgolden]

I believe the decision made by El Salvador will heavily impact the market and industry overall. Now, I just hope that other countries just look into this matter and then make their decision on adopting crypto.
This step much appreciated because I feel that this would change the way people will see cryptos in the future and gradually cryptos will be accepted by every country.
Few countries are planning to accept it but it will fall under an asset class rather than a currency.

It will have an impact on the price of bitcoin and the adoption of bitcoin in the long run depending on one thing : how will it impact el salvador. This is certainly a good step to take according to us because we love bitcoin but let's see how it will impact el salvador, if they get a good thing out this and they do very well, then that means they are not going to face any trouble with it and will continue to exist for a long time, and they will improve their economy and they will be example for all the other nations that have terrible economy and they will implement crypto to become better as well.

Basically this is the way how production went to china because it was cheaper, this way human work will move to other nations like these as well, you will hire people all over the world for cheaper and pay very small fee compared to natives who work in office and that way you will profit more.

[Fundamentals Of]

El Salvador is very decisive to be the first country to adopt Bitcoin as a legal tender. This is despite the fact that what the country is getting into is an uncharted territory. Not to mention that what the country has adopted as a legal tender is a currency not accepted by the international financial bodies. So this is still largely an experiment for now. We still don't know how this will turn out in the coming years. As such, we cannot assume that a rise in the price of Bitcoin will follow.

Other countries are carefully looking at how Bitcoin works as a legal tender and whether it will have significant impact to the socio-economic situation. From relevant observations, other countries will also make their own decisions.

[CryptopreneurBrainboss]

Many countries will follow El salvador later to accept bitcoin legal tender on their country, what do you think? Will bitcoin back to $64k in few weeks later after this insane news?

There's too much fud for a small country like El Salvador to have an impact on the market with this positive news. To be frank not until the rumors started circulating, I didn't know there was a country called El Salvador, forgive my ignorance but I believe this could be the same case with other and from my findings their local currency isn't doing quite well so we now underywhy they turned to bitcoin for help.

I don't think this development would be having an immediate effect, just like the pizza purchase that didn't have an immediate impact on shop to start accepting bitcoin, it'll take sometime before other countries start doing the same.

Lets see how the economy of El Salvador react then you can start expecting other countries to follow their fullstep. I'm pretty sure their economy is been closely monitored by other nations to see how their recent decision plays out.

[Ararbermas]

For this reason there will be regrets for those who sell off while have lost.. Lol just joking  
Actually that's what other saying when ppl panicking due to some negative news wherein they don't worry after such situation, "i mean the future" .. Indeed that's why others saying its like a roller-coaster because when there's a negative news that bring the market down there will be a good news afterwards wherein will make the market fine again.
Just imagine on this situation wherein suddenly there are some positive news about bitcoin adaption. All i can say thank you because for sure this a another sign of progress soon or later .. Lol

[Saisher]

Just imagine on this situation wherein suddenly there are some positive news about bitcoin adaption. All i can say thank you because for sure this a another sign of progress soon or later .. Lol

There's not much improvement on the price of Bitcoin and the market is still red right now, the positive impact will come later we need more good news like this, Elon Musk FUDDING has a huge impact but we'll see next month if there is a change of the market, I don't believe that the market is now shifting to bear trend, but three months of this trend and we can confirm that we are moving in the bear trend.

[bryant.coleman]

The market reaction has been disappointing, to say the least. When PayPal announced that they are integrating Bitcoin to their platform, the BTC prices jumped by almost 400% (from $8,000 to $41,000). Now this news is much more important. For the first time in the history of Bitcoin, a country has accorded official status. But the prices went up by only around 10%. I am perplexed by this. Because this news is a hundred times more significant than the ones we had with either PayPal or Tesla.

[Woodie]

This is a win for everyone and not El salvador only!
In the next few months or so I expect other countries to follow suit to make it legal tender if this turns out successful in El salvador.

We are in a digital age and not making crypto legal tender just slows down the process but this is were everyone is going.

[Taskford]

This is a win for everyone and not El salvador only!
In the next few months or so I expect other countries to follow suit to make it legal tender if this turns out successful in El salvador.

We are in a digital age and not making crypto legal tender just slows down the process but this is were everyone is going.

Few months is short time span maybe next year we can see another adoption from some countries who struggle interms of economically. But it will be great adoption if this announcement will came to first world countries but since its was started up by El salvador maybe many countries are now waiting to see the result if the adoption gives them a good results on their businesses.

[erep]

After the news that El Salvador has claimed the first country in the world to legalize bitcoin, I am very sure crypto will grow in the future as many other big countries will follow soon, just wait there will be big surprises in the future.

[buwaytress]

Ah, so it actually got approved, just read the confirmation too. But as Bryant points out, no market reaction.

I'd like to see some of those Miami conference dudes put money where their mouths were and start supporting this Salvador Bitcoin thing. And then maybe we start seeing some nodes pick up there, and maybe some good infrastructure for them merchants who let's also hope get an influx of Bitcoin spending tourists. Far end of the continent from Europe, but probably not for most of West Coast US?

[Oasisman]

The market reaction has been disappointing, to say the least. When PayPal announced that they are integrating Bitcoin to their platform, the BTC prices jumped by almost 400% (from $8,000 to $41,000). Now this news is much more important. For the first time in the history of Bitcoin, a country has accorded official status. But the prices went up by only around 10%. I am perplexed by this. Because this news is a hundred times more significant than the ones we had with either PayPal or Tesla.

Indeed.
Does this mean, PayPal is much bigger than a country?
Or Tesla accepting Bitcoin payments (which later on withdrawn)  more important than El Salvador approving Btc as a legal tender?
There has to be a huge positive impact in Btc's price that suppose to happen right after the bill got approved. But its seems that the market didn't have any movements.
Maybe the speculators are still skeptical on the impact of this new bill towards their economy.

[Inspiron14]

After the news that El Salvador has claimed the first country in the world to legalize bitcoin, I am very sure crypto will grow in the future as many other big countries will follow soon, just wait there will be big surprises in the future.

This is just the beginning, El Salvador is not only the first country, but El Salvador is aware that this technology is very useful for their countries,
Korea, Japan, Singapore have already recognized Bitcoin, and now there will be many more countries in Europe that will recognize Bitcoin and even adopt it,
of course this is a good start, because the future of Bitcoin already looks bright.

[ubercool]

I think this is one of the great steps taken by any country towards Bitcoin and our crypto community. My only concern is that we don't see any possible money laundering cases in the future as this happened in many countries where crypto supporters are slapped with money laundering cases.

[barbara44]

We should not make a big deal out of this, I mean there are tons of big name places that accepts bitcoin as few things, like places that take it as bills, places with tons of places accepting bitcoin via a gift card company (Japan had like nearly a million business accepting a gift card that you can deposit bitcoin into) and many other places that accept bitcoin tax payments, I can go on but basically it wasn't a legal tender but it was available for many other things and I am hopeful about this one to make a good change in the future but it is not THAT big of a deal, it is a good thing but people are overreacting right now and they are just overhyping it more than what it should have been.

This is why I do not think that we could see a huge increase at anytime soon, it will not impact the price but it will definitely have a good impact on the future itself.